Peloton targets new customer base with discounted memberships

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BMO Capital Markets managing director Simeon Siegel discusses the impact of Peloton’s treadmill recall.

Peloton is making its app more accessibly priced to broaden its customer reach. 

The connected fitness company, known for its spin bikes and treadmills, is making its workout app more affordable to students, military members, educators and health care workers, the company confirmed on Friday. 

Peloton has new membership pricing aimed to broaden its customer reach.

Peloton’s app, which typically costs $12.99 per month, includes live and on-demand fitness classes and will now be offered to students for a discounted $6.99 per month and at $9.99 per month for health care workers, first responders and teachers. Military members including veterans and their families will be offered a $9.99 monthly rate for life. 

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Members who qualify to take advantage of the discounts will have unlimited access to Peloton’s thousands of fitness classes and do not need a spin bike or treadmill to use.

"Peloton has continued to create an engaging app experience for all. Special pricing for the Peloton Digital Membership is Peloton’s latest effort to make its flexible app experience more inclusive and accessible to a range of professionals and communities," Peloton said in a statement. 

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The fitness company's efforts to appeal to more customers come on the heels of its treadmill recall on May 5 following reports of the death of a child and more than 70 incidents. 

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